Golden bulls have control again while the prices of the precious metal have risen around 11% since the end of May to reach their highest level since September 2013.
Fever has escalated due to better prospects for simpler monetary policy of the Federal Reserve, with markets currently predicting a 100% probability in July. Due to the geopolitical tensions between the US and Iran and the continuing uncertainties on the trading front of the United States and China, investors have also been attracted to safe-haven assets
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Gold-related ETFs have also risen along with the yellow metal last month. The VanEck Vectors Gold Miners ETF (NYSE 🙂 increased by 24.5% compared to the 3% gain over the same period.
GDX versus S&P 500 Daily Chart
These three gold diggers are looking forward to seeing their stock prices shinier:
1. Newmont Goldcorp: June Gains, 15%
Newmont Goldcorp (NYSE :), the new gold giant created after the merger of Newmont Mining and Goldcorp was completed in April, is & # 39; the world's largest gold producer based on market value, output and reserves. Shares, which gained around 19% in the last month, closed at $ 38.05 last night after reaching a new 52-week high of $ 38.72
The company closed the year 2019 with roughly $ 3.5 billion in cash and cash equivalents, while net debt fell to $ 800 million from about $ 1 billion in the same quarter of the previous year, as it was operating within the had streamlined the newly merged entity
We expect the positive trend to continue in Newmont Goldcorp thanks to its portfolio of world-class assets anchored in favorable gold mining regions in North America, South America and Australia.
The company is well placed to take advantage of the recent price increase of the yellow metal. It expects an attributable gold production of 5.2 million ounces in 2019 and the all-in support costs for producing the precious metal to $ 935 per ounce for 2019.
Newmont & # 39; s Gold Production Profile
2. Barrick Gold: June Gains, 29%
Shares of Toronto-based Barrick Gold (NYSE 🙂 & # 39; the world's No. 2 gold digger, have been on a tear lately and have risen 34% in the last month. The shares hit a high point of $ 16.44 in 52 weeks yesterday before ending at $ 15.95.
Barrick Gold's stock seems to be expanding its recent series of strong profits, as it benefits from improving fundamentals. Gold production has risen steadily over the past five years. It is expected that by 2019 5.1 million to 5.6 million ounces of precious metal will be produced, with maintenance costs estimated at a value between $ 870 and $ 920 per ounce.
Gold production (thousands of ounces)
Moreover, the recent merger with Randgold Resources – completed in September 2018 – has given it half of & # 39; the world's top 10 gold mines. Taking all of this into account, Barrick Gold remains a good bet in the future as rising gold prices and ongoing cost-saving efforts are likely to improve the bottom line in the coming quarters.
3. AngloGold Ashanti: June Gains, 30%
AngloGold Ashanti (NYSE :), headquartered in Johannesburg, South Africa, is the third largest gold producer in the world. The impressive portfolio includes fourteen operations in nine countries in major gold mining regions around the world, primarily in Africa and Australia.
Anglo Gold Ashanti shares performed much better than their competitors last month, with shares reaching around 49%. It settled at $ 17.27 yesterday after touching a 52-week high of $ 17.92 earlier in the session.
The company produced 3.4 million ounces of gold in 2018 with all-in support costs of a total of $ 968 per ounce. For 2019, it expects to produce 3.25 million to 3.45 million grams of the precious metal. All-in support costs are estimated at between $ 935 and $ 995 per gram.
The robust performance of AngloGold Ashanti seems to be continuing as it has been able to transform itself in recent years thanks to efforts to increase efficiency and competitiveness, improve margins and control operational and overhead costs
